Can you cancel a real estate seller contract?

Asked by ckessel160, Jupiter, FL Mon Mar 18, 2013

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14
Renatoclasca…, Home Buyer, Jupiter, FL
Thu Oct 27, 2016
YES: some of the best reason for cancelling a listing contract if you are dissatisfied:
1) If you signed a listing agreement and they haven't given you a copy of what you signed, the agreement is considered null & void. If they insist of suing you, tell them you will see them at Real Estate Council (in case of Ontario province, it is the RECO (Real Estate Council of Ontario).
2) You can tell them you no longer wish to continue and you got a refinancing for mortgage.
3) Find a loophole in the contract, like signatures, dates, additional conditions. Just slight mistake will give you a hand in voiding it.
4) if you had a copy of the agreement, send it to a real estate lawyer, they know what to do.
0 votes
Chad Barrett…, Agent, West Palm Beach, FL
Fri Jun 5, 2015
Just as others have stated to a certain degree, the contract will answer your question. The contract will draw out the terms you have agreed to and the consequences of any breach by any party in that agreement. Thoroughly read the agreement, and you will know what to do. If you need more guidance, a good Realtor or Lawyer will be able to give you the right advice.
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Tom Priester, Agent, Tequesta, FL
Sat May 23, 2015
ckessel,

I am assuming that you are inquiring about canceling a listing agreement that you have entered into for the sale of a property you own. It all depends on the contract that you signed which will have a beginning date and a termination date specified. Depending on the contract utilized there should be paragraph that deal specifically with cancellation. One form that is often used is the Exclusive Right of Sale Listing Agreement and it calls for the seller to reimburse the Broker for all direct expenses related to marketing the property and a specified cancellation fee. Even then the terminology is the Broker MAY agree to this cancellation. Unless the contract has some special terminology you cannot unilaterally cancel the contract unless the Broker has breeched their duties required by the contract. Whatever you agree to make sure it is properly documented in writing. If there are issues that need to be resolved you can utilization the mediation process also specified in the document.

The reality is you need to have a frank conversation with your agent as you can certainly make it very difficult for them to sell the home and keep your obligations specified in the contract. I for one would never want to continue marketing a property if the client wasn't happy with our services but would need to have a clear understanding as to why they wish to cancel.


Fins up.........


Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 561 308-0175
tom@paradisesharks.com

http://www.paradisesharks.com
0 votes
Annette Law…, Agent, Palm Harbor, FL
Thu Apr 3, 2014
Question posted Mar, 2013

After a year, the cancel of the contract and associated consequences are now well known to the one posting the question.
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Tracy M. Ward…, , 33477
Thu Apr 3, 2014
Depending on the contract that you signed, you should have a clause in the contract which allows you the option to cancel. Please note that they may charge you a fee.
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Chad Roberts, Agent, Henderson, NV
Tue Mar 4, 2014
Every contract and market is different. With this being said, contact your Realtor for a specific answer.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes
Chell Redfea…, Agent, Fort Lauderdale, FL
Tue Mar 4, 2014
This could be a very broad answer. Depending on the factors involved, there could be earnest money lost or even liability. There are certain contingencies that would allow for a void of the contract. For example, if the contract states that the property is to appraise at or above the purchase price but it comes back low..... This could be grounds for an acceptable reason to cancel. Additionally, if a home inspection comes back unfavorable in the allotted time frame (per the offer/contract), this could also lead to sufficient reason to cancel a contract.

chell@chellredfearn.com
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chambers.bre…, Home Buyer, Jupiter, FL
Sat Jul 13, 2013
Yes but you may forfeit your ernest deposit. Its best to have a reason too. Such as inspection came back with problems too costly for you or seller, or lost a job, couldn't get loan approval, .
Creditalklady.com
0 votes
As a seller?
Flag Wed Sep 25, 2013
Edith Karoli…, Agent, Winnetka, IL
Mon Mar 18, 2013
Careful, first read the listing agreement you have very carefully, then talk to the listing agent or the managing broker of the listing office, what your situation is, are you unhappy with the service, what are
your reasons for wanting to cancel.... if you are unhappy with the agent then the managing broker can assign another agent, remember your listing contract is with the brokerage not with the individual agent.
Then make sure you understand the terms of the contract carefully, there are usually some limitations to
what the homeowner can do once a listing agreement has been canceled, you want to make sure you
do understand those terms.... and there may be an advance notice for cancellation of a listing agreement... so careful, there may also be some expenses involved, it just depends on the kind of
listing agreement you signed.

But it is always a good idea to contact the managing broker of the bokerage office to see what can be
done in mutual agreement.

Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
0 votes
Antonio Vega…, Agent, Saint Cloud, FL
Mon Mar 18, 2013
All depends on your market area. Here in Central Florida it is common to have a no harm cancelation policy. By that I mean, you just talk to the agent about wanting to remove the listing from market and it is done without early termination penalty fee. The only limitation is you cannot enter into a private contract with anyone who saw the listing while advertised.
0 votes
Michelle Zahm, Agent, Jupiter, FL
Mon Mar 18, 2013
It depends on the listing agreement you signed. There are many different ones. Check your contract under CONDITIONAL TERMINATION. You may have a cancellation fee in your contract. While you may get the agent to take the property off the market. You may not be able to just get another agent until the contract time is over.

I would be happy to look at your contract and and advise you on specifics of your contract.

Michelle Zahm
Keller Williams Realty Jupiter
561-309-4282
mzahm@kw.com
0 votes
Bill Eckler, Agent, Venice, FL
Mon Mar 18, 2013
This is one of the reasons why we strongly recommend that sellers request and recieve a comprehensive marketing plan in writing that outlines exactly what the seller can expect from both the listing agent and their company.

Failure to comply with their own plans is difficult to argue against when looking to get out of a listing agreement.
0 votes
Simon Campbe…, Agent, Miami Beach, FL
Mon Mar 18, 2013
If you want to cancel your listing contract, you will need just cause. This would include such things as the agent broke the law, committed fraud, violated the term of the contract etc. Other than this, you have entered into a legally binding agreement until the end of the contract. It is not something you can just break if you change your mind. Even if you do not like how they list your property or their efforts to market it, you are basically stuck. Sorry.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Mar 18, 2013
Depends, too many factors involved for an accurate answer...what is your agent advising; also consult with an attorney who specializes in real estate beforehand, he/she can best advise...
0 votes
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